Impact Minerals Limited has raised approximately AUD 2.2 million (USD 1.56 million) before costs through a renounceable rights issue, providing additional funding to advance its two high-purity alumina projects in Australia. The company issued nearly 69 million new shares and approximately 46 million options under the capital raising, which was launched in August. Impact Minerals said the offer received strong participation from existing shareholders, including full take-up by its major German family office investor. Any remaining shortfall shares may be placed within three months, subject to the allocation policy outlined in the offer. Funding targets pilot and customer qualification work The fresh capital will support development of Impact Minerals’ Lake Hope and Alluminous high-purity...
The USD 4 billion Oklahoma aluminium smelter project planned by Emirates Global Aluminium (EGA) and Century Aluminum is facing a new hurdle in Inola, where the city council has extended a moratorium on smelter permits and called a referendum on the proposed facility. The 750,000-tonne-per-year aluminium smelter, announced in January, is expected to more than double current US primary aluminium production and would be the first new primary aluminium smelter in the country in almost 50 years. It would also become the largest source of primary aluminium in the Western Hemisphere. The project has taken on added importance as the US imports roughly 60 per cent of the primary aluminium it uses. Aluminium is essential to transportation, defence, aerospace and electrical infrastructure, making...
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The primary aluminium sector has witnessed a mixed yet significant response this week both in terms of prices and other activities. If on one hand, Hindalco’s aluminium ingot price had escalated by INR 3,250 per tonne after 4 successive downfalls, LME aluminium benchmark price had stayed on the downward side. The price fell from US$ US$3,444 per tonne to US$3,395 per tonne. On Monday, April 4, both the LME aluminium cash bid price and the LME aluminium official settlement price fell 1.12% to US$3,443.50 per tonne and US$3,444 per tonne, respectively. Apart from this, the news of EGA and Ma’aden moving towards greener aluminium smelting technology shows that the aluminium industry is paying more attention to sustainable production. As a knock-on effects from the Russia-Ukraine crisis, LME...
After a sharp cut of INR 7,250 per tonne across all the aluminium products on April 8, Vedanta Limited has lifted its aluminium prices, with effect from April 9. The company has increased its aluminium ingot price by INR 4,000 per tonne to INR 294,000- 341,500 per tonne on April 9 as against INR 290,000- 337,500 on April 8. Vedanta has also elevated its aluminium wire rod price by INR 4,000 per tonne on April 9 to sell the product at INR 301,500- 309,000 per tonne. On April 8, the company’s aluminium wire rod price stood at INR 297,500- 305,000 per tonne. Since the latest price revision, Vedanta is selling its aluminium billets at INR 302,000 per tonne, up by INR 4,000 per tonne from INR 298,000 per tonne on April 8. Vedanta Limited links its aluminium products and aluminium ingot prices...
LME aluminium benchmark price continued to trend down this week from US$3,444 per tonne to US$3,395 per tonne. Both LME aluminium cash bid price and LME aluminium official settlement price started the week on Monday, April 4, with a drop of 1.12 per cent to US$3,443.50 per tonne and US$3,444 per tonne. On Tuesday, April 5, both the prices further slipped to US$3.414 per tonne and US$3,415 per tonne but rose intermittently by 0.85 per cent and 0.83 per cent to US$3,443 per tonne and US$3,443.50 per tonne. On Thursday, April 7, LME aluminium cash bid price decreased by US$99 per tonne to US$3,344 per tonne, while LME aluminium official settlement price declined by US$97.50 per tonne to US$3,346 per tonne. However, they closed the week on April 8 higher at US$3,393 per tonne and US$3,395 per...
India’s largest aluminium producer, Vedanta Aluminium freighted its introductory 4000-tonne fly ash consignment rake to one of the plants of Holcim India – ACC Cement, Chaibasa Cement Works to produce low-carbon cement. ACC ranks as India’s leading cement producer. The aluminium company stated that this is a drive of Vedanta Jharsuguda’s waste-to-wealth incumbency and certifies worthwhile utilisation of fly ash, an industrial by-product in the circular economy path. The thermal power producers generate electricity by using coal and fly ash is a by-product. Vedanta’s Jharsuguda aluminium smelter consumes energy from its coal-fuelled captive power plant. Now, the implicit properties of fly ash can be used for upgrading product quality, sustaining energy, water, and other beneficial...
In January 2022, the United States domestic primary aluminium production stood at 82,000 tonnes, reflecting a second monthly rise of 3,000 tonnes or 3.8 per cent, found the US Census Bureau. In December 2021, the United States primary aluminium production was 79,000 tonnes, up by 4,000 tonnes from the previous month. On a year-on-year calculation, the United States primary aluminium output in January 2022 was 4,000 tonnes or 5.13 per cent higher than 78,000 tonnes. Total aluminium recovered from scrap in January 2022 was 266,000 tonnes, slightly less than the revised amount in December 2021 and essentially unchanged from the revised amounts in January 2021. Of the total amount recovered in January 2022, 151,000 tonnes were recovered from new scrap and 115,000 tonnes from old scrap. In...
According to the Shanghai Metals Market, China’s social inventories of primary aluminium have continued to grow this week by 25,000 tonnes across eight major consumption areas, including SHFE warrants. Thus, SMM data shows the inventories have come in at 1.066 million tonnes, as of Thursday, April 7, compared to 1.041 million tonnes a week ago, March 31. The rise in China’s week-on-week primary aluminium inventories is contributed by disrupted local transportation causing irregular shipments. The chart below indicates the current status of primary aluminium inventories across China in more details: As the above data demonstrates, Wuxi has seen a build-up this week of 36,000 tonnes to stand at 486,000 tonnes, while the provinces have either seen downfalls or restraints this week. For...
LME aluminium opened at US$3,436 per tonne on Thursday and closed at US$3,400 per tonne, down US$31.5 per tonne or 0.92 per cent. On 7 th April, LME aluminium cash bid price stood at US$3,344 per tonne and LME aluminium official settlement price halted at US$3,346. The former recorded a fall of 2.87 per cent or US$99 per tonne and the latter decreased by US$97.50 per tonne or 2.83 per cent. 3-month bid price stood at US$3,372 facing a downswing of 2.71 per cent or US$94 and 3-month offer price came in at US$3,374 per tonne falling by US$93 per tonne or 2.68 per cent. On the same day, December 23 bid price settled at US$3,265 per tonne and December 23 offer price at US$3,270, both witnessing a decline of 2.68 per cent or US$90 per tonne. LME aluminium opening stock continued to decrease...
Emirates Global Aluminium (EGA), the UAE’s biggest industrial company outside oil and gas, and Ma’aden, a Saudi state-owned mining company, have reportedly agreed to extend their collaboration on greener aluminium smelting technology, in a bid to achieve more sustainable production. The news came on Thursday, April 7, when both the companies said in a joint statement that they would continue to work together to develop new aluminium smelting technologies with lower greenhouse gas emissions. The agreement extends an original contract signed in 2018. As per the report now, EGA and Ma’aden also plan to work together on managing by-products from processes in the aluminium value chain and aluminium recycling. On the extension of the partnership to work on technology and other developments for...
As per SMM data, the A00 aluminium ingot price closes the week with a plunge of RMB 230 per tonne to score at RMB 21,800 per tonne. The average price for today has been registered between RMB 21,780 per tonne and RMB 21,820 per tonne, with spot contract to be traded at a premium price of RMB 70-30 per tonne. Gongyi and Chongqing has also witnessed decline by RMB 210 per tonne to record at RMB 21,740 per tonne and RMB 21,780 per tonne. As of today, the A00 aluminium ingot price in Wuxi and Shenyang, the price has plummeted by RMB 220 per tonne to total at RMB 21,800 per tonne and RMB 21,750 per tonne. In Tianjin and Linyi the price has dropped by RMB 180 per tonne and RMB 200 per tonne to come in at RMB 21,850 per tonne and RMB 21,920 per tonne. For Foshan and Hangzhou, the price has...
After four successive cuts, Hindalco Industries Limited has increased its aluminium ingot and aluminium products prices, with effect from Thursday, April 7. The company has added on INR 3,250 per tonne to its aluminium ingot price to sell it at INR 297,000 per tonne. On April 6, the price stood at INR 293,750 per tonne, seeing a downfall of INR 3,000 per tonne or 1.01 per cent from the previous day. With effect from April 7, Hindalco Industries’ aluminium wire rod price has also been grown by INR 3,250 per tonne to INR 308,100 per tonne. On the previous day, it saw a cut of INR 3,000 per tonne to stand at INR 304,850 per tonne. With the latest rise on April 7, Hindalco’s aluminium billets price came in at INR 311,100 per tonne as against INR 307,850 per tonne on April 6. Hindalco has...
The Chairman of the Board of Directors, United Company RUSAL, Bernard Zonneveld stated that, "Rusal is a multinational company, our employees work across 5 continents in 20 countries, including Ukraine." "Being interested in putting an end to the conflict in this European country as quickly as possible, we are closely watching the events there, in the hope that this horror and tragedy will finally stop." The Chairman communicated by saying, "Reports from the Ukrainian city of Bucha shocked us. We believe that this crime should be thoroughly investigated. We support an objective and impartial investigation of this crime and call for severe punishment for the perpetrators. No matter how hard it may seem in the context of ongoing information war." "Despite the brutality of the current events...
Alcoa Corporation has reportedly bagged the ASI Performance Standard Certification under Provisional Status for its smelting and casting operation at Massena, New York, USA. Known as the longest interrupted operating aluminium facility in the world, Alcoa Massena plant dates back to 1902, benefiting from the region’s abundant hydro power. The plant produces 360,000 tonnes of primary aluminium in a year. The Aluminium Stewardship Initiative has granted the provisional certification under an interim policy in regards to Audits, Audit-Related Travel and Coronavirus, which clarifies reasonable accommodations that can be made to audit plans considering the current COVID-19 situation. The Performance Standard certification represents environmental, social and governance principles and criteria,...
LME aluminium opened at US$3,436 per tonne on Wednesday and closed at US$3,443.5 per tonne, an increase of US$12 per tonne or 0.35 per cent. LME aluminium cash bid price stood at US$3,443 per tonne and LME aluminium official settlement price halted at US$3,443.50, with a rise of 0.85 per cent and 0.83 per cent respectively, if compared with records of the previous day. The 3-month bid price of aluminium increased by US$26 per tonne or 0.75 per cent to rest at US$3,466 per tonne. On the other hand 3-month offer price faced the same percentage rise resting at US$3,467 per tonne. From the LME official price chart of Wednesday, December 23 bid price stood at US$3,355 per tonne and December23 offer price at US$3,360, both witnessing an upward swing of 2.47 per cent or US$15. LME aluminium...
Gangavaram Port, the country’s deepest and most advanced port achieves yet another record-breaking milestone. The port staff loaded the most aluminium ingots in a single day, 6,559 tonnes of Aluminium ingots for the vessel SEACON MANILA at Berth No 1. This is a new national record for any Indian port. The Port has a futuristic infrastructure to handle a wide range of import and export cargos, including deep depth multi-purpose cargo berths. M/s Vedanta Ltd (Shipper of Al. Ingot Cargo) expressed their thanks for the National Record and thanked the port administration, personnel, workers, and contractor M/s Synergy Shipping for their assistance in achieving this fantastic feat. With its deep draught berths and efficient operations, Gangavaram Port has established itself as the gateway port...
A00 aluminium ingot price in China has nosedived for the second day in a row by RMB 450 per tonne to stand at the edge of RMB 22,000 per tonne. According to the Shanghai Metals Market, the price has come in at RMB 22,030 per tonne, with average prices estimated to range between RMB 22,010 per tonne and RMB 22,050 per tonne. The spot contract is likely to be traded at a premium price of RMB 90-50 per tonne. In Tianjin, the primary aluminium ingot price has slumped by RMB 550 per tonne to also come in at RMB 22,030 per tonne, while the price in Wuxi, Chongqing and Shenyang has plunged by RMB 460 per tonne to score at RMB 22,020 per tonne, RMB 21,990 per tonne and RMB 21,970 per tonne, respectively. In Foshan and Hangzhou, A00 aluminium ingot price has dwindled by RMB 450 per tonne to settle...
Vedanta Limited, a globally diversified natural resources company announced on Thursday, March 31, that its board of directors had approved plans to procure 580 MW of renewable energy (RE) for the company's operations in India. This power source has the potential to prevent around 2.7 million tonnes of GHG emissions from entering the environment once it is operational. Vedanta intends to partially replace current captive thermal power capabilities with renewable energy for smelting and other processes, as well as fulfil the power requirements of Vedanta Aluminium Jharsuguda, Balco, and Hindustan Zinc's capacity growth. Vedanta has signed an Electricity Delivery Agreement (PDA) with special purpose vehicles (SPVs), who are affiliates of Sterlite Power Technologies Pvt Ltd (SPTPL), a...
Scarcity in the supply of coal is being witnessed in India for two years in a row since Coal India has restricted its deliveries to industrial customers to carry out smooth supplies to the power plants. The country is moving towards a mandatory demand peak due to summer but the fuel stockpiles are far below the target level. The India state-owned Coal India Limited with headquarter in Kolkata, West Bengal limited its daily supplies to non-power sector users to 275,000 tonnes, which is around 17% lower than the recent average daily volumes. Even the company is cutting down on railway transportation and relying more on trucks due to the unavailability of a proper schedule which means slower delivery speed for the industrial customers. However, the Indian coal mining giant CIL is yet to make...
LME aluminium opened at US$3,450 per tonne yesterday and closed at US$3,455 per tonne, an increase of US$40 per tonne or 1.17 per cent. On 5 th April, LME aluminium cash bid price stood at US$3,414 per tonne and LME aluminium official settlement price halted at US$3,415. The former recorded a fall of 0.86 per cent or US$29.50 per tonne and the latter decreased by US$29 per tonne or 0.84 per cent. 3-month bid price stood at US$3,440 facing a downswing of 0.55 per cent or US$19 and 3-month offer price came in at US$3,441 per tonne falling by US$20 per tonne or 0.58 per cent. On the same day, December 23 bid price settled at US$3,340 per tonne and December 23 offer price at US$3,345, both witnessing a rise of 0.45 per cent or US$15 per tonne. LME aluminium opening stock continued to decrease...
